AMP Capital Investors positioned for Asian REIT growth
AMP Capital Investors has completed the final part of its transaction to form Singapore joint venture AIMS AMP Capital Industrial REIT, the company has announced.
The transaction involves AMP Capital Investors investing in the listed MacarthurCook Industrial REIT and acquiring 50 per cent of the Singapore REIT companies that manage MacarthurCook Industrial, as well as selling four Singapore industrial assets to the joint venture.
The transaction will help AMP Capital Investors expand its business into Asia and build a long-term property funds management business in a market positioned to become one of the region’s pre-eminent REIT hubs, according to AMP Capital Investors director and chief investment officer Andrew Bird.
“The combination of both partners’ complementary track property fund and asset management capabilities, the improved portfolio diversification through AIMS AMP Capital Industrial REIT’s acquisition of additional assets and the recent recapitalisation will competitively position it for growth and deliver value and consistent returns for unitholders,” Bird said.
The improved liquidity profile, capital structure and investor support has put the REIT in a much-improved position, he added.
Recommended for you
Franklin Templeton has completed its global integration of Martin Currie into ClearBridge Investments following its scrapping of the brand earlier this year.
ECP Asset Management has promoted Justin Warton to partner, investments, as its Global Growth Fund launches on the HUB24 platform.
Colonial First State has appointed J.P. Morgan Asset Management to manage two global equity strategies run as multimanager single sector options.
The Reserve Bank of Australia has announced its latest interest rate decision following this week's monetary policy meeting.
